Busan, Sep 30 (NationPress) In a significant development, South Korean President Lee Jae Myung engaged in summit discussions on Tuesday with outgoing Japanese Prime Minister Shigeru Ishiba in the southeastern city of Busan. They reached an agreement to collaborate on addressing mutual challenges, including declining birth rates and an aging demographic.

This meeting followed President Lee's visit to Tokyo about a month prior, during which he proposed the idea of holding their next discussions in South Korea but outside the capital city.

During their third summit, President Lee articulated his desire for the two neighboring nations to unite in confronting shared social issues, such as the overpopulation in the capital, and emphasized the importance of frequent leadership meetings to foster shuttle diplomacy, as reported by Yonhap News Agency.

"I aspire for our two nations to cultivate a profound relationship that transcends social concerns to include economic and security topics, alongside emotional connections," Lee remarked in his opening statements. "I hope today’s summit lays the groundwork for a fresh chapter in Korea-Japan relations."

Prime Minister Ishiba, who recently announced his resignation, expressed that it was significant to conclude his term with a summit with Lee.

"I hope that Korea and Japan can closely collaborate, maintain regular interactions, and achieve noticeable results from shuttle diplomacy," he communicated through a translator.

He also expressed the hope that both nations could share insights to address shared challenges such as population decline, low birth rates, capital region overconcentration, and issues related to agricultural and energy self-sufficiency. Additionally, he proposed the revival of the bilateral Science and Technology Cooperation Committee.

Prior to the summit, Ishiba honored the memory of Lee Soo-hyun, a South Korean student who is commemorated for his heroic attempt to save a Japanese man.

This marks the first occasion for a sitting Japanese prime minister to visit the grave of the late student, who tragically passed away at 26 while attempting to rescue someone who had fallen onto subway tracks in Tokyo in 2001.

This was the third meeting between the two leaders, following discussions at the Group of Seven summit in Canada in June and President Lee's Tokyo visit in August.

This trip also marks Ishiba's first visit to South Korea since assuming office in October last year and the first time in 21 years that a Japanese prime minister has visited a South Korean city outside of Seoul.